Canada Housing Market April 2014

 It's a new month and we are slowly accumulating the latest home sales figures from across the country. Three of Canada's most active real estate markets have released their numbers for March.

In Toronto the number of homes sold climbed 7.2% compared to a year ago but the 8,081 units fall below the 10 year average. Prices, compared to a year ago, are up 8% to just under $560,000. Toronto is expected to experience even greater price pressure as the March figures show a decline in the number of new listings.

Vancouver also reports more sales than a year ago, but the 2,641 units moved remains below the 10 year average. Prices rose 3.7% compared to a year ago -- based on the MLS home price index -- to a little more that $615,000. There is also expected to be increasing price pressure in Vancouver where new listings are down 6.4% compared to a year ago.

Calgary clocked-in with a total sales increase of nearly 21% and a 5.9% price increase which pushes the average to $478,000.